What is meant by a colorable claim

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Question 1: What is the discounted cash flow approach to fair market estimation and what are some other underlying assumptions that companies make when determining level 3 fair value estimates using the discounted cash flow approach.

Question 2: In your opinion, is there value to an auditor's opinion if it is impossible to narrow down a valuation range to the limits of materiality?

Question 3: What is meant by a "colorable claim"? Do you believe auditors should be liable for investors losses even are they follow generally accepted auditing standards?

Question 4: Assume that an organization's transaction meets the requirements GAAP. Also assume that the entire purpose of the transactions was to intentionally manage the amount of debt show on the balance sheet. Do you agree with the organization that the financial statements are fairly presented?

Reference no: EM132599327

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